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Stock impact report

M&S Says It's in Best Financial Health in Decades as Sales Rise [BNN Bloomberg (Canada)]

Victorias Secret & Co. (VSCO) 
Company Research Source: BNN Bloomberg
The clothing and homewares group reported better-than-expected pretax profit of £673 million ($857 million) last year and forecast further progress in the current financial year. It will also pay a full-year dividend of 3 pence a share — the first since 2019. M&S said both its food and clothing divisions have now delivered 12 consecutive quarters of sales growth, helped by initiatives to improve the quality and pricing of the items they sell. Cost-cutting measures and improvements in the stores and supply chain are also making operations more efficient. M&S said it ended the year with net funds of about £46 million, excluding lease liabilities, which is the best balance sheet position it's held in decades. The current turnaround of M&S, which has been fighting to improve its performance since the turn of the millennium, is being led by Chief Executive Officer Stuart Machin and Chairman Archie Norman. Past leadership teams struggled to revive sales as the retailer only slowly ad Show less Read more
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